How is Carlyle planning to fund its purchase of controlling stake in Hexaware?

Carlyle Group is planning to issue dollar bonds through its special purpose vehicle (Magnum Holdings) to fund the proposed acquisition of Hexaware Technologies. This is yet to be confirmed by the fund from its end. However, Moody’s has put out some likely details.

The $1 billion notes issue will be due for repayment in 2026 and is proposed to be used by Magnum to finance the purchase of 95.4% stake in Hexaware Technologies. The company was originally floated by Atul Nishar of Apple Training. Moody’s assigned a B1 rating with a stable outlook for the proposed bond sale.